Don't worry, Samsung has not abandoned the MP3 division (yet)
But Samsung has abandonned the name "YEPP" since February.
Concretely that doesn't change anything except that on new Samsung DAPs sold in Korea it will not be written "YEPP" anymore but only "Samsung" like on the units sold worldwide. That's already the case on the new Galaxy Player series.

But symbolically that changes more things. Indeed, "YEPP" was the Umbrella Brand for Samsung mp3 players since the very beginning in 1999. It's an acronym for 'young, energetic, passionate, personal".

The old and today's logo for YEPP

The first years, Samsung DAPs were branded "YEPP" worldwide but since 2005 units sold outside Korea are branded "Samsung" only. The sub-brand YEPP remained famous outside Korea, though.
In Korea Samsung used the name "YEPP" everywhere, even the lyrics of the quite recent Samsung M1's commercial song "magic drag" contain the word YEPP:

So why has Samsung decided to kill the YEPP sub-brand after 12 years?!
I don't know the reason but at least that shows the MP3 division is less and less important to them. First, they merged the mobile phone and MP3 divisions 2 years ago and now they kill YEPP. That doesn't sound good to me for the future...